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Doge Coin

jagermeister

Dignitary Member
Supporting Member
16,701
166
Ohio
To me, it was a free lottery ticket. I bought in at under $0.08. Cashed out $300 yesterday to bring myself whole. So now I’m sitting on 3,500 remaining shares for free. Whatever happens happens... gonna let it ride until it will at least buy me a truck or it hits zero.
 

at1010

*Supporting Member*
3,878
103
To me, it was a free lottery ticket. I bought in at under $0.08. Cashed out $300 yesterday to bring myself whole. So now I’m sitting on 3,500 remaining shares for free. Whatever happens happens... gonna let it ride until it will at least buy me a truck or it hits zero.

Keep it riding brother!!!

I have a small % amount of crypto in my portfolio - it flat out makes sense to diversify with it!

I am not a financial advisor, nor am I giving financial advice - but keep in mind short-term capital gains tax folks! Possibly it does not matter to you, but at the end of next year the IRS will be holding out their hand. So if you make 40%, assume you will pay 30-37% of that incremental gained income to the IRS.. Now, take all the negative debt interest rates in your current life (truck, car, tractor, boat, credit cards, etc.) - add all those up and add to the IRS contribution. If you are not confident you can make more than Debt+IRS, relative to your risk I would consider it a very risky investment, in the short term. After 12 months of holding a stock, you can claim long-term capital gains tax, this is far less and is typically around 15% for most folks.

Just some food for thought! I hope everyone makes a bunch! Be safe all!
 

jagermeister

Dignitary Member
Supporting Member
16,701
166
Ohio
We got in at .05 and are wishing we would've bought more. Kristi wanted to mess around with Robin Hood, so I told her to buy some of it. heard the rumor that it may hit $1 by the weekend so we bought more this morning.
I actually pulled 99% of my stuff out of Robinhood and rolled it into a Fidelity account. The user interface of RH is wayyyy better, but it pissed me off when they shut down trading of a few select stocks a few months back. Now all I have left in RH is some crypto.
 

hickslawns

Dignitary Member
Supporting Member
35,621
191
NW Ohio
I don't know anything about bass boats, so I won't buy one. Same goes for crypto currencies.

I do, however, own a fund of roughly 20 different stocks which benefit from all cryptocurrency. It is a safer play for me. I don't need to pick the next home run. I just know as cryptos climb in value, many of these companies will do well.